Form Rev 3/6/2023
RESOLUTION NO. __________
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA APPROVING THE FOURTH AMENDED AND
RESTATED OPERATING AGREEMENT BETWEEN THE CITY
AND LIVING COAST DISCOVERY CENTER
WHEREAS, on October 1, 2014, the City of Chula Vista and the Living Coast Discovery Center (“LCDC”) entered into an Amended and Restated Operating Agreement for a period of one (1) year, with an expiration date of December 31, 2015; and on February 4, 2016 the City Manager extended the term to June 30, 2017 under the Article 3.2 of the Operating Agreement; and
WHEREAS, on July 1, 2017, the Parties entered into the Second Amended and Restated Operating Agreement for the term ending December 31, 2018; in June 2019 th e City Manager extended the term to June 30, 2020 under the Article 3.2 of the Operating Agreement; and
WHEREAS, on July 28, 2020, the Parties entered into the Third Amended and Restated Operating Agreement for the term ending June 30, 2023; the City Manager has extended the term to September 9, 2025 under the Article 3.2 of the Operating Agreement; and
WHEREAS, in order to further extend the Operating Agreement, and to update certain provisions thereof, the Parties now desire to enter into this Fourth Amendment and Restated Operating Agreement for a term ending June 30, 2029; and
WHEREAS, the LCDC will be required to submit quarterly financial reports to the City; and
WHEREAS, the LCDC will contract with an independent audit firm to conduct an audit every other year at LCDC’s cost; and
WHEREAS, the audit will be completed, and a copy provided to the City of Chula Vista Director of Finance no later than November 1 of the audit year; and
WHEREAS, the City will engage an independent auditor to complete one performance audit in 2028 at the City’s expense.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Chula Vista, that it approves the Fourth Amended and Restated Operating Agreement between the City of Chula Vista and Living Coast Discovery Center, in the form presented, with such modifications as may be required or approved by the City Attorney, a copy of which shall be kept on file in the Office of the City Clerk, and authorizes and directs the City Manager to execute same.
Resolution No.
Presented by Approved as to Form by
Courtney Chase Marco A. Verdugo
Deputy City Manager City Attorney